Bloomberg Tax
March 2, 2022, 12:12 AM

Tech, Defense, Pharma Want R&D Break Restored in Funding Bill

Colin Wilhelm
Colin Wilhelm

Leaders of over 30 major companies, including Intel, AT&T, IBM, Genentech, and Northrop Grumman, have called on Congress to include the restoration of a more generous research and development tax benefit in an upcoming government funding bill.

  • The letter from a group of defense, technology, and pharmaceutical companies branding themselves as the R&D Coalition calls for reversal of a planned sunset of a benefit that allowed companies to immediately write down R&D costs from their tax bill. The R&D expensing reverted back to having businesses write down those costs over five years or 15 years, depending ...

Learn more about Bloomberg Tax or Log In to keep reading:

Learn About Bloomberg Tax

From research to software to news, find what you need to stay ahead.

Already a subscriber?

Log in to keep reading or access research tools.